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Amwelladmin (talk | contribs) (Created page with "Quick reminder: losses and damages are different, though related things. ''Losses'' are pecuniary misfortunes that you might suffer as a result of a breach of contract. They can be divided into ''direct'' losses and ''indirect'', or ''consequential'' losses. ''Damages'' are amounts a court orders a contract breaching defendant to compensate a plaintiff for its loss. They may or may not be the same amount. Damages may be ''general'', if they compensate for dire...") |
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Quick reminder: | Quick reminder: in the law of [[contract]] “losses” and “damages are” different, though related things. | ||
''[[Losses]]'' are pecuniary misfortunes that you might suffer as a result of a breach of contract. They can be divided into ''direct'' losses and ''indirect'', or ''consequential'' losses. | ''[[Losses]]'' are pecuniary misfortunes that you might suffer as a result of a breach of contract. They can be divided into ''direct'' losses and ''indirect'', or ''consequential'' losses. | ||
''[[Damages]]'' are amounts a court orders a contract breaching defendant to | ''[[Damages]]'' are the amounts a court orders a contract-breaching defendant to pay to a plaintiff as ''compensation'' for its loss. They may, or may not, be the same amount as the actual losses. | ||
Damages may be ''general'', if they compensate for direct losses, or special, if they relate to indirect losses. (There are also [[Exemplary damages|“punitive”, or “exemplary” damages]], but ''these are not available under English law for breach of contract''. | |||
[[Special damages]], as compensation for [[indirect loss|indirect losses]], are extremely rare in contract — when they are not ruled out explicitly which, in the world of finance, they usually are. | [[Special damages]], as compensation for [[indirect loss|indirect losses]], are extremely rare in contract — when they are not ruled out explicitly which, in the world of finance, they usually are. |